Terra (LUNA) Price Surges 20%, Rallying Towards $75 Critical Resistance

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  • Since August 2021, the Terra price has sustained a steady increase.
  • Terra is up 19.53% in the last 24 hours.

As the gloom of uncertainty began to lift, the cryptocurrency market as a whole reacted favorably by making a solid comeback. Terra (LUNA) was able to break over the initial resistance while other popular and conventional cryptos restored their levels. As a result, the LUNA price may find support near $60 or $62 before making a significant upward move.

The day before, Russian military activities in Ukraine significantly influenced global markets, including cryptocurrencies. Bitcoin, Ethereum, and other cryptocurrencies dropped by double digits. Terra (LUNA) maintained its upward trend throughout the crypto market’s massacre despite this. Hence, the ATH may not be substantially different for the asset after demonstrating enormous strength.

Steady Rise Since Last 6 Months

Since August 2021, the Terra price has sustained a steady increase. A new high was formed every time these levels were breached. This month’s trading began far below the trend line, mainly due to a sharp decline after it blasted its all-time high at $100. 

LUNA/USDT: Source: TradingView

It was on the brink of testing a crucial level after the LUNA price had risen significantly during the previous three to four days. The asset is now facing a short-term decline due to exhaustion. However, because of the high volume of trades, the resistance level of $70 may be challenged and broken shortly. However, a new all-time high might be in sight as soon as $80 is broken, and a new ATH could be only around the corner. According to CoinMarketCap, the Terra price today is $68.01 USD with a 24-hour trading volume of $4,738,735,659 USD. Terra is up 19.53% in the last 24 hours.

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